This is an archive article published on March 21, 2023
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Employees call off strike as govt agrees to incorporate OPS benefits in new pension scheme

Government likely to increase its contribution from 14 per cent to 20 per cent in NPS

Employees call off strike, OPS, OPS benefits, new pension scheme, Maharashtra govt employees protest, Indian Express, Indian Express NewsGovernment employees hold a demonstration in Mumbai demanding implementation of Old Pension Scheme in the state. (Express photo by Ganesh Shirsekar)
4 min readMumbaiMar 22, 2023 01:41 PM IST First published on: Mar 21, 2023 at 12:09 AM IST

Around 17 lakh employees of Maharashtra government, who had been on an indefinite strike since March 14 over Old Pension Scheme (OPS), called off their protest on Monday evening after a meeting with Chief Minister Eknath Shinde and senior government officials where they were assured of OPS benefits being included in the new scheme.

While an in-principle approval was given to extend monetary benefits of the OPS to those under the New Pension Scheme (NPS), sources in the government said that the state government is likely to increase its share in the new scheme from 14 per cent to 20 per cent.

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At present, while the employee contribution to the scheme is 10 per cent, the government contribution stands at 14 per cent. Experts say that an increase in government contribution to 20 per cent will significantly enhance the pension payout for employees.

Alok Deshpande is a Special Correspondent with The Indian Express' Mumbai bureau, reco... Read More

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